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Bitcoin Price Will Touch US$115,000? This is the Analysis!
Blockchainmedia - According to one of the leading crypto analysts, Cryptorphic, Bitcoin (BTC) is expected to reach a price of US$115,000 in the next few months.
While most investors hope to see BTC reach US$200,000 or more, he says a realistic target price for bitcoin is currently US$115,000.
In the analysis he expressed on the Tradingview site, he also revealed that if $BTC reaches that level, altcoins will benefit greatly.
âIf BTC reaches US$115,000, altcoins could surge 20 times or even 50 times!â he stressed.
This can be seen clearly from the movement pattern of BTC over the last seven months, which continues to increase slowly. Whales, who are known as big investors, often use this pattern for accumulation.
For example, in the February 2024 candle, the liquidity between the highest price in January 2024 and the lowest price in March 2024 has been taken.
"Talking about indicators, currently the RSI is around 63.13, and in every bull run, it usually rises to 92, entering the overbought zone," he said.
Apart from that, he also reminded that a 10 to 20 percent price decline in altcoins is not something long-term investors need to fear.
Even though it is predicted to break US$115,000, other technical analysis shows that the price is currently trading slightly above the EMA-200D level, a critical level that can determine whether the price will continue to rise or undergo a correction.
With strong technical analysis and a continuing bullish trend, now is a great time to prepare for the next price spike in the cryptocurrency market.
#BitcoinDaily #Binance! #BTCâ
Blockchainmedia - According to one of the leading crypto analysts, Cryptorphic, Bitcoin (BTC) is expected to reach a price of US$115,000 in the next few months.
While most investors hope to see BTC reach US$200,000 or more, he says a realistic target price for bitcoin is currently US$115,000.
In the analysis he expressed on the Tradingview site, he also revealed that if $BTC reaches that level, altcoins will benefit greatly.
âIf BTC reaches US$115,000, altcoins could surge 20 times or even 50 times!â he stressed.
This can be seen clearly from the movement pattern of BTC over the last seven months, which continues to increase slowly. Whales, who are known as big investors, often use this pattern for accumulation.
For example, in the February 2024 candle, the liquidity between the highest price in January 2024 and the lowest price in March 2024 has been taken.
"Talking about indicators, currently the RSI is around 63.13, and in every bull run, it usually rises to 92, entering the overbought zone," he said.
Apart from that, he also reminded that a 10 to 20 percent price decline in altcoins is not something long-term investors need to fear.
Even though it is predicted to break US$115,000, other technical analysis shows that the price is currently trading slightly above the EMA-200D level, a critical level that can determine whether the price will continue to rise or undergo a correction.
With strong technical analysis and a continuing bullish trend, now is a great time to prepare for the next price spike in the cryptocurrency market.
#BitcoinDaily #Binance! #BTCâ
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$BTC Experiencing Rejection in the Supply area, the possibility that will occur is a decline to the Demand area 62,400 - 61,700 #BitcoinDaily #BitcoinShortSignal #BTCâ
